TD Bank Group reported Q4 results for the period ended Oct. 31, 2025, highlighting growth in its insurance operations.
The wealth management and insurance segments posted net income of $699 million, an increase of $350 million year-over-year, driven by record earnings in the wealth management segment and lower losses from catastrophe claims in the insurance segment.
TD Insurance launched a next-generation usage-based insurance program and a mobile app that provides driving insights and personalized pricing, rewarding safe driving behavior. The program is designed to encourage risk reduction through proactive engagement with policyholders, representing a shift toward more client-focused and data-driven insurance solutions.
This approach aligns with the broader trend in the Canadian insurance market toward usage-based and telematics-enabled products, which can improve risk management and pricing accuracy while enhancing customer engagement.
The wealth management segment also contributed to the insurance business’s results. Record ETF sales of $1.6 billion, daily trades up 37% year-over-year, and total assets exceeding $1.3 trillion reflect sustained growth across investment products that complement the Bank’s insurance offerings.
TD Advice recorded strong asset growth in Financial Planning, indicating that clients increasingly leverage the Bank’s integrated wealth and insurance solutions. Cross-referrals between personal banking, wealth management, and insurance continue to drive revenue and strengthen client relationships.
The insurance segment’s performance benefited from lower losses from catastrophe claims compared with the prior year. This reduction in claims contributed directly to the increase in net income, demonstrating the impact of both operational improvements and favourable claims experience on financial results.
TD Bank’s insurance business is positioned to build on these gains through ongoing investment in digital capabilities, product innovation, and client engagement strategies. By integrating technology-driven solutions with traditional insurance offerings, the Bank aims to enhance risk management, pricing precision, and overall customer experience.
Raymond Chun, group president and chief executive officer, said the Bank is well-positioned to continue developing its insurance business while innovating to meet the evolving needs of clients. He noted that these efforts, combined with a strong focus on digital tools and wealth integration, support TD’s broader strategy to deliver value across its insurance, wealth, and personal banking operations.
The Bank’s Q4 insurance performance underscores the growing role of digital innovation, usage-based products, and integrated wealth solutions in driving revenue, client engagement, and risk management outcomes in the Canadian insurance market.
